The native token of the Nervos Community, CKB, has reached its three-year-high worth stage regardless of the bearish sentiment within the crypto market.
CKB is up by 13.2% up to now 24 hours and is buying and selling at $0.035 on the time of writing — a stage final seen in March 2021. The asset’s market cap surged to $1.55 billion, making it the 69th-largest cryptocurrency.
![CKB defies bearish market conditions, reaches 3-year high - 1](https://crypto.news/app/uploads/2024/04/Nervos-Network-CKB-10.50.15-10-Apr-2024-1024x347.png)
The day by day buying and selling quantity of CKB recorded a 2.6% hike, reaching $313 million.
Based on knowledge offered by Santiment, the CKB whole open curiosity (OI) dropped by 6.8% over the previous day — falling from $70.17 million to $65.38 million. At this level, the declining OI suggests lower cost volatility for the asset.
Furthermore, knowledge reveals that the whole funding fee aggregated by CKB surged from 0.011% to 0.019% over the previous 24 hours. The indicator means that merchants are nonetheless betting on an additional worth rally for CKB because it reaches its three-year excessive.
If the CKB worth witnesses one other surge, merchants may witness elevated brief positions liquidated.
Per knowledge from Santiment, the CKB Relative Power Index (RSI) rose from 69 to 73 over the previous day. The indicator reveals that the asset is barely overbought on the present worth level and a few profit-taking exercise can be anticipated.
CKB’s RSI would want to drop under the 60 mark for it to stay within the bullish zone.